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Key retail sales data from the UK
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Final CPI print for December from euro area
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US industrial production forecasted to drop in December
9:30 am GMT - UK, retail sales for December. Retail sales data tops a busy week for the British pound. Reading could be decisive for BoE’s next decision (January 30). Currently market odds for a cut stand at 61.4% so unless data beats, BoE may pull the trigger. Headline print is expected to show a 2.6% YoY increase while core gauge should come in at 2.9% YoY.
10:00 am GMT - Euro area, CPI inflation for December (final). Expected: 1.3% YoY
1:30 pm GMT - US, building permits for December. Expected: 1465k
1:30 pm GMT - US, housing starts for December. Expected: 1378k
2:15 pm GMT - US, industrial production for December. Industrial production data release is the most important “hard” data reading from the US today. The headline gauge is expected to show a drop of 0.2% MoM against 1.1% MoM increase in November. Capacity utilization is forecasted to slide from 77.3% to 77%.
3:00 pm GMT - US, Michigan Consumer Sentiment for January. Sentiment gauges in the US improve over the final quarter of 2019. However, stabilization is expected at the beginning of a new year as Michigan Consumer Sentiment is forecasted to stay unchanged at 99.3 pts. Expectations sub-index is expected to improve while current conditions gauges should drop.
Central bankers’ speeches
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2:00 pm GMT - Fed’s Harker
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5:45 pm GMT - Fed’s Quarles
Major earnings releases
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State Street (STT.US)
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Citizens Financial Group (CFG.US)
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Schlumberger (SLB.US)
